Update from Editor Peter Sciretta:The Wrap has confirmed that Tim Burton IS in talks to direct Michael Keaton in Beetlejuice 2. The Geffen Company will produce the sequel with Seth Grahame-Smith.

20th Century Fox’s fantasy film “Miss Peregrine’s Home for Peculiar Children” may not be Burton’s next movie. Peter Chernin’s production company is producing the adaptation of Ransom Riggs’ bestselling novel. The truth is that Burton hasn’t decided what his next movie will be, and while it definitely won’t be “Beetlejuice 2,” his long-rumored interest in a sequel is no mere flirtation anymore.

So while its confirmed Burton’s in talks, its not a done deal. Original story follows below.